Which of the following groups over 19 years of age had the highest unemployment rate in the United States in 2015?
A. white women
B. African American women
C. white men
D. African American men
Answer: D
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If the economy were producing at point A and moved to point B the opportunity cost in terms of lost production of robots would be
A. 1 unit of robots.
B. 2 units of robots.
C. 3 units of robots.
D. 2 units of outboard motors.
If the Fed sells government bonds in the open market, it will cause:
A) a downward movement along the supply curve for reserves. B) a shift of the supply curve for reserves to the left. C) a shift of the supply curve for reserves to the right. D) an upward movement along the supply curve for reserves.
Output supply curves always slope up in the one-input model.
Answer the following statement true (T) or false (F)
A price increase will cause an increase in total revenue when:
A. the price effect outweighs the quantity effect. B. the quantity effect outweighs the price effect. C. demand is perfectly elastic. D. demand is unit elastic.